Find Your Property

Buying a home is a big step, and making sure you are investing in the right property can feel a bit overwhelming. We have assembled various tips to help guide and organize your search for a house. 

Why purchase a home? 
• Home ownership overtime has proven to be a wise investment. Owning one’s home provides stability, independence, and pride. 

Establish the amount you can afford:
• You can use a simple mortgage calculator to determine how large of a home loan you can afford. This will help you verify the amount of the monthly payments you can manage paying. Getting pre-approved      for a loan will speed up the buying process and show the seller that you are a serious buyer.

Questions one should ask him or herself when searching for a home:
  • Where would I like to live?
  • Would I like to be close to a school, shopping centers, work, or all of the above?
  • What are the necessary features I need in my home?
  • Do I have a particular style of a home that I am looking for?
  • How many bedrooms and bathrooms do I need in my home? (Take into account future growth of your household)

Create a checklist of items that are negotiable and nonnegotiable for you in order to provide yourself with a clear idea of what you want in your home. This is also where a professional agent will come in handy; our agents have access to a range of contacts and will obtain the right house for you quickly. Your agent will arrange for you home showings and keep track of the properties you have seen. Each time you venture out to see more properties, revisit your notes to eliminate properties that do not meet your standards. 

Make an offer:
The amount you will offer for a home is determined by a range of factors:
  • The condition of the home and the cost of any necessary repairs.
  • Market timing: when the prices are low, many buyers are tempted to procrastinate in purchasing with hopes that the prices will drop. However, this depends on whether it is a buyers or sellers market. When houses are selling quickly, you may have many competitive buyers, and you should bid accordingly. To avoid losing your dream home to another buyer, consult with you agent for the appropriate approach. Your real estate agent will determine the offer price by reviewing recent sales of homes in a neighborhood similar in size, quality and amenities.

After the offer amount has been established, you and your real estate professional will draft a written contract that summarizes what needs to be done by both parties to execute the transaction. Generally, a “good will” deposit is included in this offer. Your realtor will help you determine the amount of the deposit.
  • This contract will include: A proposed move in date, the price you are offering for the home, anticipated closing date, any contingencies, and other details of the deal 
  • The seller has three options: they may accept the offer, make a counter offer, or reject the offer. Because you and the seller have different goals, rely on your agent’s expertise to bring both sides to a favorable outcome.
  • If the seller accepts the offer, the document becomes a binding agreement. If the seller changes any aspect of the offer, it is no longer a binding agreement until you, the buyer, agrees to the seller’s changes.

The Contingency Period:
The contingency period begins when your purchase offer has been accepted. During this period you assure any contingency of your purchase agreement.
This is the time to arrange for a home inspection. Your real estate professional will help you find a reputable inspector and will negotiate to help you get the optimal amount for your dollar. 
  • The inspection should include:

Electrical system check, inspection of the plumbing and waste disposal, the water heater, pests, foundation, doors, windows, ceilings, walls, floors, roof, etc...
If the repairs are negotiated as part of the purchase, ask for a walk through before finalizing the home buying paperwork.

Closing the deal!
Minimum 24 hours in advance of your closing date, your lender will send a final closing statement that outlines your closing costs, if applicable; your real estate agent will then review these documents with you to ensure accuracy. 
Prior to closing date, make sure to have completed all necessary paperwork and made all required deposits. The paperwork includes: mortgage, title, homeowner’s insurance, and any other paperwork required by local or state government when purchasing a home. Your agent will be with you at every step of the way to help complete the closing checklist and avoid any last minute delays. You deserve a joyful and smooth transition during your home buying process! 
The closing is when homeownership is legally transferred from the seller of the property to the buyer. Closing procedures are commonly held at the escrow company, and the attendants include most parties involved in the transaction. The closing officer will coordinate the document signing as well as the collection and disbursement of funds. 

Congratulations, you are now the owner of your dream property!